In a rare occurrence, which may only last for a week, Democrats in the Senate showed some spine and voted down an important procedural vote on the GENIUS Act, a bill that would establish a (very weak) regulatory framework for the use of stablecoins.

Democrats united against the current version of the bill as they've raised concerns over Trump’s ties to the industry.

Legislation to create a framework for payment stablecoins failed to clear a key hurdle on the Senate floor Thursday, after several Democrats voted against moving forward with consideration of the